Shares of Carbonite Inc (NASDAQ:CARB) have earned a consensus rating of “Hold” from the sixteen brokerages that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $37.22.
A number of research analysts have commented on the company. BidaskClub raised Carbonite from a “hold” rating to a “buy” rating in a report on Wednesday, March 27th. B. Riley set a $42.00 price objective on Carbonite and gave the company a “buy” rating in a report on Friday, May 3rd. Craig Hallum set a $43.00 price objective on Carbonite and gave the company a “buy” rating in a report on Friday, May 3rd. Barclays assumed coverage on Carbonite in a report on Thursday, March 28th. They issued an “overweight” rating and a $30.00 price objective on the stock. Finally, Zacks Investment Research lowered Carbonite from a “buy” rating to a “hold” rating in a report on Monday, February 11th.
NASDAQ CARB traded down $0.13 on Friday, reaching $24.53. The stock had a trading volume of 19,258 shares, compared to its average volume of 557,001. The company has a debt-to-equity ratio of 2.65, a current ratio of 0.88 and a quick ratio of 0.88. Carbonite has a 1-year low of $21.83 and a 1-year high of $43.63. The firm has a market cap of $846.44 million, a price-to-earnings ratio of 19.62, a P/E/G ratio of 0.91 and a beta of 0.70.
Carbonite (NASDAQ:CARB) last issued its quarterly earnings data on Thursday, May 2nd. The technology company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.18. Carbonite had a positive return on equity of 21.93% and a negative net margin of 0.76%. The firm had revenue of $81.20 million for the quarter, compared to analyst estimates of $77.36 million. During the same period in the prior year, the firm posted $0.27 EPS. The company’s revenue for the quarter was up 26.9% on a year-over-year basis. On average, equities analysts anticipate that Carbonite will post 1.42 earnings per share for the current fiscal year.
In other news, CFO Anthony Folger sold 1,611 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $24.58, for a total transaction of $39,598.38. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Mohamad Ali sold 4,000 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $24.45, for a total value of $97,800.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,490 shares of company stock worth $348,369. 8.00% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in CARB. Quantamental Technologies LLC boosted its stake in Carbonite by 2,085.9% in the first quarter. Quantamental Technologies LLC now owns 2,951 shares of the technology company’s stock valued at $73,000 after buying an additional 2,816 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in Carbonite by 73.2% in the fourth quarter. Advisors Asset Management Inc. now owns 3,147 shares of the technology company’s stock valued at $79,000 after buying an additional 1,330 shares in the last quarter. Advisor Group Inc. boosted its stake in Carbonite by 21.7% in the fourth quarter. Advisor Group Inc. now owns 3,195 shares of the technology company’s stock valued at $82,000 after buying an additional 570 shares in the last quarter. Great West Life Assurance Co. Can boosted its stake in Carbonite by 97.3% in the fourth quarter. Great West Life Assurance Co. Can now owns 4,143 shares of the technology company’s stock valued at $101,000 after buying an additional 2,043 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in Carbonite by 13.7% in the fourth quarter. Legal & General Group Plc now owns 5,685 shares of the technology company’s stock valued at $144,000 after buying an additional 687 shares in the last quarter. 94.92% of the stock is currently owned by institutional investors and hedge funds.
Carbonite Company Profile
Carbonite, Inc, together with its subsidiaries, provides backup, disaster recovery, high availability, and workload migration technology solutions in the United States. Its solutions include Carbonite Safe, a cloud backup solution for individuals and businesses that protects customer data from accidental deletions, crashes, ransomware, viruses, and other common threats; and Carbonite Endpoint that protects the data, which resides on an organization's computers, laptops, tablets, and smartphones.
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